Unabsorbed depreciaton can be setoff from salary??

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CA Balram Sharma (Querist)
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24 October 2009 ACCORDING TO SECTION 32(2) UN ABSORBED DEPRECATION CAN BE SET OFF FROM ANY HEAD, IS IT'S POSSIBLE TO SETOFF UNABSORBED DEPRECIATION FORM SALARY HEAD?
IF NOT THAN WHY?

PLEASE REFER THE SECTION ALSO

Aditya Maheshwari

Aditya Maheshwari (Expert)
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24 October 2009 No

71. Set off of loss from one head against income from another.
[(2A) Notwithstanding anything contained in sub-section (1) or sub-section (2), where in respect of any assessment year, the net result of the computation under the head â€œProfits and gains of business or professionâ€ is a loss and the assessee has income assessable under the head â€œSalariesâ€, the assessee shall not be entitled to have such loss set off against such income.]

Jagdish Bhalia

Jagdish Bhalia (Expert)
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24 October 2009 Yes Unabsorbed Depreciation can be set off against the head of Salary. Unabsorbed depreciation is not a business loss and can be set off against any head of Income without any time limit.

CA Balram Sharma

CA Balram Sharma (Querist)
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27 October 2009
PLEASE ANS WITH PROPER REASONING , PLEASE REFER THE SECTION ALSO

CA Balram Sharma

CA Balram Sharma (Querist)
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28 October 2009 no

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